TenCore Partners LP Trims Holdings in Elevance Health, Inc. $ELV

TenCore Partners LP lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 11.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,000 shares of the company’s stock after selling 4,000 shares during the period. Elevance Health comprises about 5.6% of TenCore Partners LP’s investment portfolio, making the stock its 10th biggest position. TenCore Partners LP’s holdings in Elevance Health were worth $10,867,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC boosted its position in Elevance Health by 3.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock valued at $354,000 after buying an additional 29 shares during the period. Fulton Breakefield Broenniman LLC boosted its position in Elevance Health by 3.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after buying an additional 29 shares during the period. Perigon Wealth Management LLC boosted its position in Elevance Health by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after buying an additional 29 shares during the period. Savvy Advisors Inc. boosted its position in Elevance Health by 3.2% during the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after buying an additional 30 shares during the period. Finally, CoreCap Advisors LLC boosted its position in Elevance Health by 6.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock valued at $195,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Elevance Health from $397.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Royal Bank Of Canada cut shares of Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target on the stock. in a research report on Tuesday, February 3rd. Truist Financial boosted their price target on shares of Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a research report on Monday. Finally, Leerink Partners set a $364.00 price target on shares of Elevance Health in a research report on Thursday, April 23rd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $407.05.

Elevance Health Trading Up 2.4%

Shares of NYSE ELV opened at $402.69 on Tuesday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $408.00. The stock has a market cap of $87.45 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. The firm has a 50-day moving average of $345.97 and a 200 day moving average of $339.77. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. During the same period last year, the company posted $11.97 EPS. Elevance Health’s revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, sell-side analysts expect that Elevance Health, Inc. will post 26.94 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 29.26%.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.